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Vikas Mishra   14 June 2021

Home loan dispute

My father had taken home loan from a bank. And now he wants to transfer the property to his son. How can he transfer the property ? How son can become owner or co owner of the property?


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 3 Replies

Sankaranarayanan (Advocate)     14 June 2021

Without settle the loan amount the title of property can not be  changed. 

G.L.N. Prasad (Retired employee.)     15 June 2021

Contact the banker.  There is certainly a way out of giving a fresh loan to the son, and then crediting that amount to the old loan of father, and accepting such sale deed from father as fresh loan, if the account is in order and not NPA.

T. Kalaiselvan, Advocate (Advocate)     16 June 2021

Your father has to first discharge the loan in full, retrieve the title documents from bank along with no due certificate and cancellation of mortgage registration, after which he can transfer the property to his son.

 


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